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TORONTO and TAMPA, Fla., Sept. 28, 2021 (GLOBE NEWSWIRE) -- Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) ("Voxtur" or the "Company"), a technology company creating a more transparent and accessible real estate lending ecosystem, is pleased to announce that it has executed a membership interest purchase agreement (the "Agreement") for the acquisition of all of the issued and outstanding limited liability company membership interests (the “Acquisition”) of RealWealth Technologies LLC ("RealWealth").
RealWealth has developed a proprietary, investor-centric digital platform intended to change consumer behavior through the democratization of data, content, tools, and fiduciary support. With the Acquisition, RealWealth will be repositioned as VoxturWealth.
Consideration for the Acquisition will consist of three million common shares of Voxtur to be issued at closing (the “Consideration Shares”), and an additional two million common shares to be held in escrow and released upon the achievement by RealWealth of certain EBITDA targets as set forth in the Agreement (the "Additional Shares").
Voxtur's industry-leading technology solutions and workflow management combined with the vision and software solutions of RealWealth will make VoxturWealth the most trusted and relied upon real estate management platform in North America. RealWealth was founded by Ross McCredie ("McCredie"), a real estate industry veteran whose success in technology development and partnership building will bring vitality and innovation to the overall growth strategy of Voxtur.
“The acquisition of RealWealth by Voxtur brings a new standard of integrity and confidence to real estate management in North America. VoxturWealth will engage feature elements of Voxtur companies to arm owners and fiduciaries with complete, verified data and an ability to make more informed decisions around real estate assets,” said CEO Jim Albertelli. “We are looking forward to VoxturWealth becoming an invaluable industry resource and see this acquisition as a step forward in our transition to a full-service real estate technology platform.”
“The combination of our platforms and our people will be another major step in the vision of Voxtur and we couldn’t be more excited about joining forces,” said McCredie.
Completion of the Acquisition is subject to the receipt of all required regulatory, corporate and third-party approvals, including the approval of the TSX Venture Exchange (the “TSXV”).
Voxtur is a transformational real estate technology company that is redefining industry standards in a dynamic lending environment. The Company offers targeted data analytics to simplify tax solutions, property valuation and settlement services throughout the lending lifecycle for investors, lenders, government agencies and servicers. Voxtur’s proprietary data hub and workflow platforms more accurately and efficiently value assets, originate and service loans, securitize portfolios and evaluate tax assessments. The Company serves the property lending and property tax sectors, both public and private, in the United States and Canada. For more information, visit www.voxtur.com.
Completion of the Acquisition is subject to a number of conditions, including but not limited to, any necessary stock exchange or other regulatory approvals. The Acquisition cannot close until the required approvals are obtained. There can be no assurance that the Acquisition will be completed as proposed or at all. Investors are cautioned that any information released or received with respect to the Acquisition may not be accurate or complete and should not be relied upon. The TSX Venture Exchange has in no way passed upon the merits of the Acquisition and has neither approved nor disapproved the contents of this press release.
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements and forward-looking information (collectively, “Forward-Looking Information”). Any information contained herein that is not based on historical facts may be deemed to constitute forward- looking information within the meaning of Canadian and United States securities laws. Forward-looking information may be based on expectations, estimates and projections as at the date of this news release, and may be identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions. Forward-looking information may include, but is not limited to: the completion of the Acquisition; receipt of key regulatory approvals for the Acquisition; the effects of unexpected costs, liabilities or delays; success of software activities; expectations for other economic, business, environmental, regulatory and/or competitive factors related to the Company, or the real estate industry generally; anticipated future production costs; and other events or conditions that may occur in the future. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the information is provided. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information include but are not limited to: additional costs related to acquisitions; changing global financial conditions, especially in light of the COVID-19 global pandemic; uncertainty related to existing foreclosure moratoriums in the United States; reliance on specific key employees and customers to maintain business operations; competition within the Company’s industry; a risk in technological failure or failure to implement technological upgrades; the Company’s dependence on maintaining intellectual property; operating losses and negative cash flows; and currency fluctuations. Accordingly, readers should not place undue reliance on forward-looking information contained herein.
This Forward-Looking Information is provided as of the date of this news release and, accordingly, is subject to change after such date. The Company does not assume any obligation to update or revise this information to reflect new events or circumstances except as required in accordance with applicable laws.
Voxtur’s common shares are traded on the TSX Venture Exchange under the symbol VXTR and in the US on the OTCQB under the symbol VXTRF.
Chief Investment Officer
Tel: (416) 708-9764